(TheNewswire)
June21 st , 2023 – Vancouver,British Columbia – Lake Winn Resources Corp. (“ Lake Winn ” or the “ Company ”) (TSXV:LWR) (FSE:EE1A) is pleasedto provide an update on recent activities related to its LittleNahanni Lithium Project (“the Project”) located in westernNorthwest Territories (NWT) as shown on Figure 1. The Project is 100%owned and covers 7,080 hectares of prospective ground.
The Little Nahanni Lithium Project was modelled byArcher, Cathro & Associates (1981) Limited at the request of LakeWinn to better define the pegmatite swarms in 3D and to assist infuture exploration efforts on the Project. Data to date isinsufficient to model for any purpose other than highlighting futureexploration targets and trends.
The prospect comprises aseries of dyke swarms which strike over 7,000 m along the extent ofthe claim group. Swarms range from 50 m to 250 m in width, withindividual dykes typically 1-10 m wide. The dyke swarms dip steeply tothe north-east and have been demonstrated in outcrop and drilling tohave a vertical extent of 300 m or more.
Modelling was performed in Seequent Leapfrog Geo usingsurface mapping points and interpretations derived from previousexploration campaigns. Drill data, where possible, was incorporated in order to refine models and or addpotential targets for further evaluation. Over 600 historical surfacemapping points were used across the region to define the dyke swarmsas well as model individual dykes. Classification and namingconventions were retained. Where local fault offsets were inferredfrom previous assessments, these were honoured as much as possible.Dip orientations were derived from surface mapping and projected todepth. The dykes remain open to depth and the full vertical extent ofthe dykes is unknown. They are modelled to an arbitrary depth, butthis is not based on any current data apart from surface projections.Figure 2 illustrates an isometric view of modelled dykes.
Surface structural readings from mapping were used togenerate individual dyke wireframes. These are 2D planes witharbitrary strike length and vertical extents and are primarily made tovisually highlight dyke density and project strike extensions intodata-sparse areas. Numerous lithology readings used to generate thedyke swarms have been collected across the property and can be furtherincorporated to define the dykes in greater resolution.
Surface data points for modelling are confined toridges and other topographical highs which results in gaps of 500 m ormore across cirques. Although continuity can be readily inferred wheredata points are dense, it is apparent that dyke complexity is high ona local scale and can affect volume estimates. Modelled dykes in theseareas have inferred widths and orientations.
Work History
Historical drilling for tantalum in 2007 resulted inthe initial lithium discoveries. Highlights from the historicaldrilling are shown in Table 1 and the drill hole locations are shownon Figure 2.
Table 1 –Historical Drill Highlights
DDH | From (m) | To (m) | Width (m) | Li 2 O(%) | Ta 2 O 5 (g/t) | SnO 2 (g/t) |
MAC001 | 62.50 | 63.60 | 1.10 | 0.05 | 722.4 | 697.9 |
MAC001 | 68.80 | 70.10 | 1.30 | 0.30 | 190.5 | 568.3 |
MAC001 | 86.00 | 89.20 | 3.20 | 0.54 | 76.9 | 384.8 |
MAC001 | 102.80 | 105.94 | 3.14 | 0.63 | 140.4 | 189.2 |
MAC001 | 121.60 | 122.10 | 0.50 | 0.07 | 610.5 | 401.3 |
MAC006 | 61.88 | 66.86 | 4.98 | 0.26 | 76.9 | 231.1 |
MAC006 | 85.60 | 87.00 | 1.40 | 0.65 | 316.6 | 531.9 |
MAC006 | 172.37 | 190.64 | 18.27 | 0.92 | 33.0 | 149.9 |
MAC007 | 30.22 | 33.62 | 3.40 | 0.20 | 57.4 | 171.5 |
MAC007 | 105.84 | 116.78 | 10.94 | 1.20 | 35.4 | 219.7 |
MAC007 | 143.73 | 149.20 | 5.47 | 0.33 | 26.9 | 104.1 |
MAC008 | 37.58 | 38.73 | 1.15 | 0.58 | 172.1 | 526.9 |
In 2017 the Company resampled the2007 drill core as the previous property owner’s focus was ontantalum and tin and many of the 2007 samples exceeded the upperdetection limit for lithium (1%) and were not further analyzed. Theresampling highlights can be found in Table D.
Table D - Li2OGrade Comparison 2007 to 2017
DDH | 2007 Length(m) | 2007 GradeLi 2 O | 2017 Length(m) | 2017 GradeLi 2 O | % Li 2 O Increase |
MAC006 | 18.27 | 0.92% | 17.96 | 1.03% | 12% |
MAC007 | 10.94 | 1.20% | 9.66 | 1.47% | 23% |
A channel sampling program was conducted on the Projectin 2016 confirming the grade and tenor of the lithium occurrences atsurface (Table 2).
Table 2 –Channel Sampling Results
Dyke Swarm | Width (m) * 1 | Li 2 O(%) | Ta 2 O 5 (g/t) | SnO 2 (%) |
Prison Wall | 4.40 | 1.12 | 55.0 | 0.05 |
1.20 | 2.33 | 59.0 | 0.05 | |
1.90 | 0.87 | 56.4 | 0.03 | |
1.70 | 1.57 | 250.3 | 0.95 | |
Berlin Wall | 4.00 | 2.04 | 57.8 | 0.05 |
1.95 | 2.29 | 48.7 | 0.01 | |
0.95 | 3.10 | 53.6 | 0.03 | |
Great Wall of China | 16.65 | 1.21 | 65.4 | 0.03 |
3.75 | 1.67 | 45 | 0.03 | |
7.00 | 1.41 | 59.9 | 0.04 | |
1.25 | 1.83 | 67.3 | 0.05 | |
5.15 | 1.63 | 52.9 | 0.01 | |
Hadrian's Wall | 1.05 | 0.85 | 80.9 | 0.05 |
6.30 | 1.86 | 116.7 | 0.05 |
*1 – Measured widths are estimated to be 98 to 90% ofthe true thickness, due to the near vertical dip.
Dias Geophysical Limited (“Dias”) recentlycompleted a QMAG T airbornegeophysical survey across the property. The survey involved flying 512line-kilometers with minimum lengths of 3 km and line spacings of 75m. Flight line directions were oriented at 090°. The QMAG T system used is a full-tensor magneticgradiometry system employing the SQUID (superconducting quantuminterface device) sensor. Figure 3 below illustrates preliminary datafrom the geophysical survey. The survey was conducted over 6 days inDecember 2022 based out of Watson Lake, Yukon.
Engagement with Nah??Dehé Dene Band
Company CEO, Patrick Power, and VP Exploration, BuddyDoyle, travelled to Nahanni Butte, Northwest Territories on May24 th to meet with the Nah?? Dehé Dene Band (NDDB). The day involved apresentation and discussions regarding the Little Nahanni LithiumProject.
“I’m encouraged with Lake Winn’s first-ever visitto the community of Nahanni Butte. We had a wonderful introductorymeeting with NDDB and we look forward to continuing to grow the relationship between Lake Winn and NDDB. I wouldlike to thank Chief Steve Vital and his team for their time and forhosting us in their beautiful community.” - Patrick Power,CEO
The technical information in this news release has beenapproved by Heather Burrell, P.Geo., a senior geologist with Archer,Cathro & Associates (1981) Limited and a qualified person for thepurpose of National Instrument 43-101.
About Lake Winn Resources
Lake Winn Resources Corp. is a mineral explorationcompany focused on advancing its 100% owned Little Nahanni LithiumProject (“LNLP”), which is located in the western NorthwestTerritories near the Yukon Border. The project covers 7,080 hectaresthat encompasses a 7 km long, and up to 500 m wide, lithium, tantalum,and tin pegmatite dyke swarm. Historical drilling and channel samplingon the Project confirms the presence of significant lithium, tantalum,and tin.
The Company was recently issued a 5-year Class -A Permit to conduct explorationon the Project. The permit is inclusive of camp construction,drilling, trenching, and channel sampling ( see Press Releasedate May 9th, 2023 ).
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINNRESOURCES CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
www.lakewinn.ca
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Cautionary Statement Regarding“Forward-Looking” Information
This news release contains“forward-looking statements” including but not limited tostatements with respect to Lake Winn’s plans, the estimation of amineral resource, and the success of exploration activities. In thisrelease, it is not certain if the discovery will be economic or not asthis depends on many factors. Forward-looking statements, while basedon management’s best estimates and assumptions, are subject to risksand uncertainties that may cause actual results to be materiallydifferent from those expressed or implied by such forward-looking statements. There canbe no assurance that such statements will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Factors that could affect our plansinclude our potential inability to raise funds as intended, and insuch event, we may require all funds raised, if any, to be used forworking capital rather than the intended uses as outlined.Accordingly, readers should not place undue reliance onforward?looking statements. Lake Winn undertakes no obligation orresponsibility to update forward?looking statements, except asrequired by law.
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